Kenyan logistics startup Leta has secured $5 million in seed funding to expand its AI-powered platform, which helps businesses move goods more efficiently across Africa, TechCrunch reports. The round was led by European venture capital firm Speedinvest, with backing from Google’s Africa Investment Fund and Africa-focused climate tech fund Equator. Streamling Logistics with AI Founded in 2021 by Nick Joshi, Leta is tackling Africa’s logistics challenges by streamlining supply chains, reducing inefficiencies, and helping businesses save time and money. Its platform integrates with businesses’ sales and ordering systems, pulling real-time data
Mastercard Foundation, an international nongovernmental organization, has ended its commitment to invest $100 million in 54 Collective, the most active investor in Africa. 54 Collective (formerly Founders Factory Africa) and Mastercard Foundation “will be pursuing different strategies moving forward, and the partnership will end on 30 April 2025,” the venture capital firm told Rest of World in an email. A setback for Africa’s most active investor On February 20, the leadership team of 54 Collective informed staff that the new changes would lead to layoffs as the firm would end
Equator, an Africa-focused venture capital firm, secured $55 million for its first fund to support climate tech startups, particularly in their early stages, as reported by TechCrunch. Africa has less than 3% of global energy-related CO2 emissions but suffers from some of the worst climate impacts. Equator seeks to address that, saying it invests in deals “addressing economic and sustainability challenges emerging from these impacts.” Funding African climate tech startups In African countries, climate tech startups have to navigate a difficult funding landscape compared to their peers in more developed
Zeal Capital Partners has announced that Stefanie Thomas-Martin has been promoted to Partner. Since joining the company in 2023, Thomas-Martin has led the Barclays Black Formation Investment (BBFI) vehicle, a $50 million pre-seed investment platform that supports Zeal Capital’s Inclusive Investing™ strategy. She also pioneered the firm’s inaugural scout program. On the Zeal Capital website, Thomas-Martin says she joined the team to “continue backing exceptional teams with a mission orientation towards delivering value for underserved communities.” Stefanie Thomas-Martin makes partner “Stefanie has consistently demonstrated a commitment to our mission and
Stacy Brown-Philpot, TaskRabbit’s former chief executive officer, secured $172 million for her new venture fund, Cherryrock Capital. The fund focuses on investing at the Series A and B stages in companies led by underinvested entrepreneurs. Cherryrock Capital’s investors included JPMorgan Chase & Co. and Goldman Sachs Group Inc, as well as Massachusetts Mutual Life Insurance Co., LinkedIn co-founder Reid Hoffman, Ariel Investments’ Mellody Hobson, and former Meta Platforms Inc. chief operating officer Sheryl Sandberg, according to Bloomberg. The fund’s launch comes at a time when several companies are scaling back their
Ulu Ventures, reportedly the largest Latina-led fund in the US, has raised $208 million for its fourth fund. The fund supports seed-stage tech startups in the US using an inclusive, data-based approach that seeks to limit cognitive bias without shutting out any demographic group. This strategy has led to a more diverse portfolio than traditional venture investments. “Ulu is a beacon for the most talented entrepreneurial teams because we reduce bias by applying impartial methods of assessing risk and the same criteria to all people,” CEO, Co-founder, and Managing Director
This week on Techish, Michael and Abadesi break down DeepSeek, China’s open-source AI rival, what the rise in AI agents means for jobs, and Andreessen Horowitz (a16z) hiring Daniel Perry, the man who placed Jordan Neely in a lethal chokehold on a NYC subway. They also discuss Kendrick Lamar’s Grammy sweep for his Drake diss track and why Bianca Censori, Kanye West’s wife, never seems to be wearing any clothes. Chapters 00:30 The Rise of Deepseek: A Game Changer in AI 07:33 Job Ads for AI Agents 12:55 Kendrick Wins
Silicon Valley venture capital firm Andreessen Horowitz (a16z) has hired Daniel Penny, the former Marine who made national headlines following the killing of Jordan Neely, a 30-year-old homeless Black man, on a New York subway. The news was first reported by The Free Press. Penny was acquitted of criminally negligent homicide in December 2024. Although he has no prior investment experience, Andreessen Horowitz plans to train him for his new role. Jordan Neely’s Death Jordan Neely was known for being a Michael Jackson impersonator who performed in Times Square. During
This week on Techish, Abadesi sits down with Alphonso David, a Human Rights and civil rights lawyer and advocate, to talk about his work as President and CEO of the Global Black Economic Forum. They dive into breaking down barriers for marginalized communities, why diversity, equity, and inclusion actually matters, and the need for real investment in Black and Brown businesses. Alphonso also shares the secret to his perseverance and what we can learn from the past to drive change today. Chapters00:00 Breaking Down Barriers for Marginalized Communities03:20 Why Diversity,
Geek Ventures is raising a second fund, as stated in a recent SEC filing, according to TechCrunch. The New York-based tech venture fund is the brainchild of Ihar Mahaniok, an engineer with over 20 years of experience in building code and machine learning. The second fund has raised $9 million so far but has no set target amount; its first sale was recorded on Monday, January 13, as stated in the filing. Helping immigrants in the tech industry Mahaniok grew up in Belarus, where he did an undergraduate in computer
